<div class=newsTextDataWrapInner><p>SINGAPORE (July 16): Hong Leong Asia's CEO Tan Eng Kwee has resigned from his position as a director and CEO to “pursue other interests” on Thursday.</p></div>

<div class=newsTextDataWrapInner><p>His resignation will take effect on Aug 16.</p></div>

<div class=newsTextDataWrapInner><p>As at July 16, Tan is holding directorships in 63 other companies including Equatorial Hotel Management, HL Building Materials, Nirwana Properties, Tasek Property Holdings, and Venture Delta Limited.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>In a statement, Hong Leong Asia said<a href="https://www.theedgesingapore.com/news/banking-finance/hong-leong-ceo-tan-eng-kwee-resigns" target="_blank"><em>...(click on link for full story on theedgesingapore.com)</em></a></p></div>


SINGAPORE (July 16): Hong Leong Asia's CEO Tan Eng Kwee has resigned from his position as a director and CEO to “pursue other interests” on Thursday.

Hong Leong Asia CEO Tan Eng Kwee resigns

The Malaysian Anti-Corruption Commission (MACC) in Penang has arrested an enforcement officer for allegedly soliciting a bribe of around RM80,000 from a woman.

According to an MACC source, the 40-something male suspect contacted the woman on Nov 30 following the arrest of her husband and demanded a bribe, claiming it was to help release her husband, who was detained under the Security Offences (Special Measures) Act (SOSMA 2012).

Penang MACC arrests enforcement officer for soliciting RM80,000 bribe

China and India took a further step towards easing their long-running border dispute on Wednesday, with senior officials holding formal talks for the first time in five years and committing to finding mutually acceptable solutions.

Chinese, Indian officials in talks to ease dispute over Himalayan border area

Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday.

MRCB, Berjaya Corp, YTL Power, SD Guthrie, EcoWorld, Supermax, Scientex, YNH Property, T7 Global, PTT Synergy, RHB Bank, Ge-Shen, Aeon, Pestech, Quality Concrete, Advancecon

South Malaysia Industries (KL:SMI) insisted again on Wednesday that no extraordinary general meeting (EGM) of the company will take place on Jan 9,  amid ongoing clashes between two shareholder groups vying for control of SMI.

No EGM will be held until notice is issued and court rules on suits, says SMI

Wall Street's main indexes were subdued in choppy trading on Wednesday, as investors anticipated an interest rate cut from the Federal Reserve in its final meeting of the year and awaited clues on what policymakers could do in 2025.

Wall Street muted as caution prevails ahead of Fed decision

The police have issued a stern warning to the public to avoid approaching the site of the Sungai Kelantan riverbank collapse near a condominium and hotel on Jalan Post Office Lama here.

Public warned to stay away from collapsed Sungai Kelantan riverbank 

SD Guthrie will issue an official notice directing cattle farmers unlawfully occupying its land to relocate their livestock from the company’s plantation in Sabak Bernam by Jan 31.

Selangor Rural Development, Unity, and Consumer Affairs Committee chairman Datuk Rizam Ismail said the decision was made during a meeting with SD Guthrie representatives on Tuesday.

SD Guthrie to issue official notice to farmers to relocate livestock — Exco

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Wednesday, said palm oil trader David Ng.

He said that CPO prices hit their lowest in a month due to mounting concerns over the implementation of the biodiesel B40 programme starting next month.

CPO futures close lower amid concerns over B40 biodiesel implementation

EVENING 5: Five things you need to know today

EVENING 5: MACC clears YTL unit of wrongdoing in 1BestariNet project

<p>Malaysian Resources Corp Bhd (KL:MRCB) has withdrawn from the Berjaya-led consortium bidding for the multi-billion-ringgit Kuala Lumpur-Singapore high-speed rail (HSR) project, Berjaya Group announced on Wednesday.</p>


Berjaya says MRCB has pulled out of consortium vying for KL-Singapore HSR

<p>YTL Power International Bhd (KL:YTLPOWR) said the Malaysian Anti-Corruption Commission (MACC) has cleared the group's 60% owned subsidiary, YTL Communications Sdn Bhd, of any wrongdoing in connection with the 1BestariNet project.</p>


YTL Power says MACC has cleared subsidiary of wrongdoing in 1BestariNet project

<p>Pestech International Bhd (KL:PESTECH), which is now a subsidiary of Dhaya Maju Infrastructure (Asia) Sdn Bhd, announced a slew of boardroom changes on Thursday, which saw the appointments of Dhaya Maju's co-founder and its group chief executive officer to its board, with immediate effect.</p>


Dhaya Maju founder, CEO join Pestech's board, along with former chief secretary to govt Mohd Zuki

<p>Economists remain cautiously optimistic on Malaysia’s external trade outlook for 2025, following better-than-expected November data which saw the country’s trade surplus rise to a 14-month high.</p>


Economists upbeat on Malaysia’s trade after November exports beat, flag US policy wildcard

<p>Eco World Development Group Bhd (KL:ECOWLD), in collaboration with SD Guthrie Bhd (KL:SDG) and Negeri Sembilan's state investment arm NS Corporation, will jointly develop a 1,166-acre industrial park in Bukit Pelanduk, Negeri Sembilan, that will have an estimated gross development value (GDV) of RM2.95 billion.</p>


SD Guthrie, EcoWorld and NS Corp to jointly develop RM2.95b industrial park in Negeri Sembilan

<p>Earthworks and civil engineering services provider Advancecon Holdings Bhd (KL:ADVCON) has secured a RM417.7 million contract to undertake the development of the Silver Valley Technology Park (SVTP) in Perak.</p>


Advancecon secures RM418m contract to develop Silver Valley Technology Park in Perak 

<p>RHB Bank Bhd has filed an appeal against the High Court's ruling last month that Tokio Marine Life Insurance Malaysia Bhd's right to first refusal, under the bank's 10-year bancassurance arrangement with the bank, is still in effect until the expiry of the agreement on Dec 31, 2024.</p>


RHB Bank appeals against High Court ruling on bancassurance deal with Tokio Marine

<p>Former finance minister Lim Guan Eng has filed an appeal against the High Court's failure to order former prime minister Tan Sri Muhyiddin Yassin to pay interest on damages over defamatory statements concerning tax breaks for Tan Sri Syed Mokhtar Al-Bukhary’s charity foundation Yayasan Albukhary.</p>


Yayasan Albukhary: Guan Eng files appeal, seeking interest on damages awarded

<p>Pestech International Bhd (KL:PESTECH), now a subsidiary of Dhaya Maju Infrastructure (Asia) Sdn Bhd, has proposed a scheme of arrangement involving a one-off upfront cash payment of RM65 million to settle its RM267 million outstanding debt.</p>


Pestech proposes scheme of arrangement to settle outstanding RM267m debt 

<p>The new criteria for the exemption of financial statement audits for private companies will take effect on Jan 1, 2025.</p>


New audit exemption criteria for private companies kicks in January 1 — SSM 

<p>T7 Global Bhd (KL:T7GLOBAL) has been appointed by Petroliam Nasional Bhd (Petronas) as a panel contractor to provide integrated well continuity services for a five year term.</p>


T7 appointed Petronas panel contractor for well continuity services in sixth pan-Malaysia contract

<p>Malaysia Rail Link Sdn Bhd (MRL) and China Communications Construction (ECRL) Sdn Bhd (CCCECRL) on Wednesday created an operating company (OpCo) with a 50:50 interest ratio for the purpose of operating and maintaining the East Coast Rail Link (ECRL) project.</p>


MRL and CCCECRL to jointly operate and maintain ECRL project

<p>Malaysia on Wednesday presented a donation of US$5 million (RM22.29 million) to the people of Palestine through the initiative of the Jordanian government to alleviate the suffering and the worsening humanitarian crisis in Gaza.</p>


Malaysia donates US$5 mil to Palestinians

<p>KUALA LUMPUR (Dec 18): The Royal Malaysia Police revealed that losses suffered by online fraud victims aged 50 and above is the highest compared to other age groups.</p>


Victims aged 50 and above suffer highest losses in online fraud cases — police

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday.</p>


<p>US authorities are considering a ban on China's TP-Link Technology Co over potential national security concerns after its home internet routers were linked to cyberattacks, <em>The Wall Street Journal</em> reported on Wednesday, citing people familiar with the matter.</p>


US mulls ban on China's TP-Link over national security concerns — WSJ 

<p>Ge-Shen Corp Bhd (KL:GESHEN) executive director Lee Hai Peng has emerged as a substantial shareholder of the contract manufacturer.</p>


Ge-Shen executive director Lee Hai Peng emerges as substantial shareholder 

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<p>Transport Minister Anthony Loke has questioned the necessity of a Public Accounts Committee (PAC) investigation into the proposed 30-year electric train lease project, valued at RM10.7 billion.</p>

<p>He clarified that the project is still conceptual and no contract has been finalised.</p>


Loke questions need for PAC to probe RM10.7 bil electric train lease

<p>A summary of how key Bursa Malaysia indices and the ringgit performed on Wednesday.</p>
